The African Export-Import Bank (Afreximbank) is convening its 32nd Annual General Meeting (AAM2025) in Abuja, Nigeria, from 25 to 27 June, under the theme “Building the Future on Decades of Resilience.”
As global leaders, African heads of state, and private sector giants gather, attention is sharply divided between Afreximbank’s growing trade ambitions and mounting concerns over its sovereign loan exposure.
The event comes amid controversy over Afreximbank’s preferred creditor status, particularly regarding its sovereign lending to Ghana, Zambia, and Malawi. Fitch recently downgraded the bank’s credit rating to just above junk, citing rising credit risk, non-performing loans at 7.1%, and governance concerns. JP Morgan warns that any participation in sovereign debt restructurings could trigger further downgrades and forced bond sell-offs, though it now considers Afreximbank bonds attractive on a risk-adjusted basis.
Despite these tensions, AAM2025 is also spotlighting Afreximbank’s expanding role in accelerating intra-African trade. The Bank has unveiled plans for a new maritime route connecting Nigeria and Namibia, aimed at bolstering trade flows between Dangote’s refinery and Southern Africa. This builds on Afreximbank’s broader effort to strengthen the African Continental Free Trade Area (AfCFTA), a core priority for African industrialisation and trade integration.
Afreximbank’s intra-African trade portfolio has surged to over 30% of its total exposure, up from less than 3% prior to 2018. The Bank financed more than USD 20 billion in intra-African trade under its previous strategy and is targeting USD 40 billion by 2026. Initiatives like the Africa Trade and Distribution Company further aim to support SMEs, improve logistics, and aggregate regional supply chains, ultimately advancing the continent’s ambition to move beyond raw commodity exports toward value-added production.
Source: Further Africa
